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How electronic payments can help your business

If you're like many small business owners, you likely see technology as both a blessing and a curse. Constantly changing programs and upgrading software is frustrating because it takes a lot of mental energy and some technical know-how to keep up with it all. Accepting credit cards online may be something you've held off on, but it can actually give valuable insights and help grow your business. However, it does have to be done correctly to work. See how and why electronic payments should at least be an option for your business.

A Bigger Reach

Taking electronic payments gives your company some reach. Even if you're primarily a local business, taking payments online can appeal to people in the area who would rather pay online, and those customers who have heard about your business through social media or word of mouth and would patronize your business, but live too far away for it to be convenient. Even companies who make perishable food have found ways to export their business to people all over the country. Companies who make niche products may start to see a huge gain in popularity in specific places across the USA and beyond. You never know where a trend is going to start, and being there to fill the need from across the country could be the road to success you've been waiting for.

Security Expectations

Today's customer expects a certain level of security when offering up their credit card information online for a purchase. But security shouldn't be a barrier to making a purchase. While customers know that the rules are in place for their protection, most upstanding people don't want to have to jump through a dozen hoops before they can get their purchase. Luckily, online software is moving forward in terms of giving people simple forms to fill out online that only require their basic credit card information, name, address and phone number. The number 2 reason that customers decide not to complete an online purchase is because they get spooked about a website's security practices. Other reasons included not taking enough payment types and not being mobile friendly. To cater to your customers wants and needs, your best strategy is to invest in the smartest payment technology choices on the market today. This will help you be upfront about your prices and payments, and give customers more options for payment. There are subtle ways you can convey your site is professional and won't leave their information vulnerable to hackers. Simple language and information about your safety practices can help immensely. Having these measures in place is a key component to growing your business through electronic payments.

Making It Count

An electronic payment system can also help when it comes to implementing loyalty or subscription programs. With electronic payments, you can easily auto-charge a customer's credit card for a continued service. It can also help you collect data that gives you insights into how to improve your business, or promote certain products or services. With electronic payments data at hand, you can promote new programs and packaged deals that you can market to different groups of people.

If you're interested in generating business online, be sure to ask your trusted payment processor about online payment solutions that suit your business.